New Zealand and India Finalize Landmark Free Trade Agreement
'Once-in-a-generation opportunity': New Zealand PM hails FTA with India
Business Standard
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New Zealand and India have finalized a historic Free Trade Agreement (FTA), seen as a transformative milestone for both nations. New Zealand Prime Minister Christopher Luxon emphasized the opportunity for Kiwi exporters as 57% of exports to India will be tariff-free from day one, paving the way for increased trade relations.
- 01New Zealand and India have finalized a historic Free Trade Agreement (FTA).
- 0257% of New Zealand's exports to India will be tariff-free from the start.
- 03The deal is part of India's broader trade diplomacy strategy, with more agreements expected soon.
- 04New Zealand aims to capitalize on India's growing affluent consumer base.
- 05This FTA is the seventh signed by India in the last three and a half years.
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New Zealand and India have finalized a landmark Free Trade Agreement (FTA), which both nations' leaders describe as a transformative milestone for economic relations. New Zealand Prime Minister Christopher Luxon highlighted the significance of the Indian market, noting its population of approximately 1.5 billion people, which is becoming increasingly affluent. The FTA allows 57% of New Zealand's exports to India to be tariff-free from day one, enhancing the competitiveness of Kiwi exporters in the Indian marketplace. This agreement marks the seventh FTA signed by India under Commerce and Industry Minister Piyush Goyal's tenure, who indicated that further agreements with the European Union and the United States are on the horizon. The deal is expected to become operational by the end of this year, reflecting India's rapid trade diplomacy efforts.
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The FTA is expected to lower costs for Kiwi exporters, making New Zealand products more competitive in the Indian market, which could lead to increased sales and economic growth.
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